Social Trading is a form of investment that permits the investors to see or observe the behavioral trading pattern of their peers and expert traders and allow them to use or copy their trading strategies in which they can use Copy Trading or Mirror Trading patterns. Social trading requires very little knowledge about the financial markets and thus has been given the tag of an alternative to traditional wealth managers.
To learn social trading one should connect more and more to people who are in this particular field. They should keenly observe and learn the techniques, strategies, and patterns used by the experts and thus very neatly use them in the market. Social trading is beneficial in many ways as it Saves on Fees, Is the low cost to start, One can compare their performance and free flow of information is carried. Now there are many forex social trading platforms used nowadays, some of them are listed below:
- Naga Trader
- FX Junction
- Darwine X
- Tradency Mirror Trader